Monday 26 September 2016

Land prices holding steady nationwide

Jim O'Brien

Published 11/05/2016 | 02:30

Property at Ballyvolane, Ardpatrick, Co Limerick
Property at Ballyvolane, Ardpatrick, Co Limerick

The auction season is in full swing and lots of action is reported throughout the provinces in recent weeks. Prices are holding steady with few spectacular results. At auction land in Wexford made between €6,000/ac and €10,000/ac, with ground in Co Clare commanding a strong €12,000/ac, while a 20ac piece in Dublin made €14,000/ac.

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In Munster the Clare farmers are mirroring their hurlers and performing well. In Scarriff a 13ac parcel of land sold at auction recently making €158,000 surpassing its pre-auction guide by €8,000 and netting over €12,000/ac.

Located about 500m from the town of Scarriff at Fossabeg the roadside holding is described as fine grazing land. Laid out in two fields it has extensive frontage on to Fossabeg road and is described by auctioneer Seamus Bane as good clean pasture ground. The smaller field is a south-facing hill while the larger field faces generally northeast.

At auction proceedings opened at €80,000 and with three bidders in contention the price on offer reached €130,000. Following consultation with the owner the place was put on the market at that point and bidding continued until the hammer fell after 22 bids and a local farmer bought the holding for €158,000.

According to Mr Bane everyone was happy with the result. "It was a good auction for a good piece of land and it realised somewhat more than we had expected," he said.

Limerick sale

In neighbouring Co Limerick a 73ac residential farm at Ardpatrick sold under the hammer of Richard Ryan of GVM KiImallock for €700,000 or almost €9,600/ac.

Located 3km from the village of Ardpatrick in southeast Limerick the farm includes a neat, traditional, single storey farmhouse in excellent condition. The accommodation comprises three bedrooms, two reception rooms, a kitchen and a wet room/bathroom.

The farm buildings and facilities are somewhat dated and include a four-bay covered silage pit with two lean-tos accommodating 64 cubicles. There is a range of other out offices and an open slurry tank. The land is described as the finest of Golden Vale grazing ground well laid out and in great heart. Entitlements with the holding are worth €10,000.

At auction two determined bidders showed cause when it opened at €550,000. The place was put on the market at €690,000 and sold at €700,000 or just under €10,000/ac.

East Cork sale

A 66ac part of a 158ac residential farm at Lisgoold and Ballincurrig in East Cork sold under the direction of Dan Fleming recently for €510,000 or just over €7,200/ac.

Comprising 12ac of wood and 44ac of grazing the field was once home to a famous point-to-point.

Located 15 minutes from Midleton and 10 minutes from Watergrasshill the field is divided into paddocks by electric fencing. It has plenty of road frontage and is serviced by mains water, electricity and a cattle crush.

The remaining 92ac with a house and extensive yards 1km away at Ballincurrig is currently making around €900,000 and Mr Fleming is confident of getting it across the line.

Indo Farming

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